China’s manufacturing PMI bounces back at 50.2 in February

China’s manufacturing purchasing managers’ index (PMI) came in at 50.2 in February, an increase of 1.1 percentage points from the previous month, data from the National Bureau of Statistics (NBS) showed on Saturday.

Commenting on the PMI data, Zhao Qinghe, a senior statistician at the NBS, said that the resumption of work and production across enterprises following the Spring Festival holiday in February has revitalized business operations, improving economic vitality.

The sub-indices for production and new orders increased to 52.5 and 51.1, respectively, rising 2.7 and 1.9 percentage points from the previous month. Zhao said this indicates a rapid recovery in manufacturing activity after the Spring Festival and a rebound in market demand.

The country’s non-manufacturing PMI in February stood at 50.4, an increase of 0.2 percentage point from the previous month, while the composite PMI came in at 51.1, up 1 percentage point.

A PMI reading above 50 indicates expansion, while a reading below 50 reflects contraction. The February data show that China’s three major indicators are all in the expansion range.